Landlord
The Eviction Process in Texas:
In Texas, a landlord must legally terminate the tenancy before evicting a tenant. The landlord must first give the tenant a written notice, as required by state law. If the tenant does not move out after receiving this notice, then the landlord can file an eviction lawsuit (also called a forcible entry and detainer suit). Three steps of eviction:
01
Eviction Notice
Sending an eviction notice is the first step of the eviction process in Texas.
02
Filing an Eviction
In Texas, eviction cases are filed at the Justice of The Peace Courts.
03
Eviction Court
Eviction court hearings allow you to plead your case and receive a judgment.
04
Evicted
Eviction take place and search for new tenants.
Insurance
What is DP1, DP2 and DP3?
There are three levels of landlord policies. For landlord insurance, these are called basic dwelling property insurance or dwelling-fire form 1 (DP-1); broad dwelling property insurance or dwelling-fire form 2 (DP-2), and special dwelling landlord insurance or dwelling-fire form 3 (DP-3).
Landlord policies, whether DP-1, DP-2 or DP-3. Generally, DP-3 policies are the most comprehensive, followed by DP-2 policies, with DP-1 policies offering the least amount of coverage. But individual policies may vary in what they cover, how much reimbursement they offer, and when the coverage applies.
Check your policy for your specific exclusions.
How much reimbursement landlord policies offer?
DP-1 policies are actual cash value (ACV) policies, meaning that in the event of a loss, the insurer will reimburse you for the depreciated value of your property.
DP-2 and DP-2 policies are both replacement cost value (RCV) policies, meaning the insurer would reimburse you for the full cost of replacing your property.
DP-2 and DP-3 policies also have higher coverage amounts than DP-1 policies.
When landlord coverage applies?
DP-1 and DP-2 landlord policies are both named peril policy, which means they only cover damage caused by perils listed in the policy. DP-1 policies cover fewer perils than DP-2 policies. In fact, some DP-1 policies only cover damage from fire, while more robust policies and DP-2 policies also cover other perils, including hail, wind, falling objects, overflowing water from damaged plumbing, and more.
DP-3 landlord insurance is an open peril policy, meaning that all causes of damage are covered except those specifically excluded in the policy.
All landlord policies generally exclude flood damage (you need separate flood insurance for that) and earthquake damage (you need to add an earthquake rider to be covered).
Check your policy for your specific exclusions.
Extra landlord coverages to consider?
Depending on the neighborhood, geographic area or condition of your rental, you may want to consider adding on some optional coverages to your landlord policy.
These coverages may include:
• Vandalism
You may want optional coverage to help you pay to repair vandalism damage. If your property is vandalized, that type of damage typically isn't covered by a traditional landlord policy unless you purchase vandalism coverage.
• Burglary
While a standard landlord insurance policy may help pay to repair your home if it's damaged in a break-in, it typically won't pay to replace stolen items. Optional coverage may be available for theft of items you keep on the property to help maintain it, such as appliances or a lawnmower.
• Rental property under construction
Are you gutting or renovating your rental or building a new dwelling? You may be able to purchase additional coverage to help protect the structure until it's ready to be occupied.
• Building codes
If you're repairing or replacing part of your rental after it's been damaged, you could be legally required to upgrade items like wiring or ventilation, says the International Risk Management Institute. This is because city or county codes may have changed since your property was originally built. This coverage may help reimburse you for those additional costs.
WHAT'S USUALLY NOT COVERED BY LANDLORD INSURANCE?
While landlord insurance may help pay for expenses stemming from a number of sudden and accidental losses, you'll likely find that some things are excluded from the policy's coverage. A landlord policy may not cover:
• Maintenance and equipment breakdowns
If the furnace or dishwasher in your rental property breaks down, you'll likely have to pay out of pocket for any necessary repairs or replacements.
• Property you share
If you live on the property and rent out a room or another floor to a tenant, you're typically not eligible for a landlord policy, according to the National Association of Insurance Commissioners. Landlord policies are designed for "non-owner-occupied" property. Talk to your insurer about whether you can add coverage to your homeowner’s policy for the section of your property you're renting.
• Tenants' belongings
Landlord insurance generally does not cover your tenant's personal possessions (electronics, clothes, etc.). For that protection, your tenants will need to purchase their own renter’s insurance policy. Some landlords require tenants to show proof of renter’s insurance before approving their rental contract. This helps renters pay to repair or replace their personal belongings, such as furniture and clothing, if they are damaged by a covered peril, such as fire or theft.
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